Gokongwei persevering with Cebu integrated casino Hotel project

In the Philippines, the billionaire business magnate behind the strategy to construct a $337.2 million integrated casino resort on the central island of Cebu is allegedly persevering with the enterprise despite January’s issuance of a semi moratorium by President, Rodrigo Duterte.

Ground-breaking planned for Saturday:

Based on a Monday report from The Philippine Star newspaper, John Gokongwei (pictured) is planning to hold a ground-breaking ceremony for his envisioned Isla Dela Victoria advancement on Saturday. The job from his Universal Hotels and Resorts Incorporated vehicle is due to occupy a 19.7-acre plot of reclaimed land just south of Cebu City and finally feature a massive casino and a trio of hotels alongside a shopping mall, a convention center and numerous restaurants and pubs.

Reportedly the second wealthiest man from the Philippines thanks to a net worth of approximately $5.8 billion, Gokongwei filed his strategy for the Isla Dela Victoria growth to local authorities in March and now hopes to start inviting guests into the new venue in just over three decades ’ time.

Project disregards casino freeze:

Francisco ‘Bimbo’ Fernandez, Mayoral Executive Assistant for Cebu City, told The Philippines Star that 92-year-old Gokongwei is planning to attend the August 25 ground-breaking ceremony despite Duterte’s earlier proclamation that future these places should be confined to this 1,977-acre Entertainment City district of Manila.

Fernandez to The Philippine Star…

“He would like to be here at the groundbreaking. Theyrsquo;re able to do it. They want to start building and theyrsquo;re going to apply for the permit and such.

Neighborhood mayor voices his service:

Tomas Osmena,” Mayor for Cebu City, previously told the paper that he is in favor of building the Isla Dela Victoria growth, that was named after a local fisherman who died while protecting the region ’s waters from dynamite fisherman, because it is due to make approximately 5,000 jobs including positions in security and construction.

Osmena into The Philippine Star…

“John Gokongwei, who isn’t just a self-made billionaire but also a fellow Cebuano, has agreed to spend $337.2 million for an 861,112 sq feet world-class integrated development that includes pubs, pubs, a mall, convention center, casino, park, theatre and no less than three hotels.